Hydrodec patent application success in US

Josh White WebFG News | 18 Sep, 2017 15:46 - Updated: 15:46 | | |

bandera eeuu usa america

HydroDec Group


17:17 12/12/17
  • 8,816.39
  • 1.88%162.45
  • Max: 8,819.20
  • Min: 8,653.94
  • Volume: 0
  • MM 200 : n/a
17:20 12/12/17
  • 1,019.91
  • 0.27%2.73
  • Max: 1,020.22
  • Min: 1,015.22
  • Volume: 0
  • MM 200 : n/a
17:30 12/12/17

Clean-technology industrial oil re-refining firm Hydrodec Group announced on Monday that it has been successful in its application for a new patent in respect of its transformer oil re-refining process.

The AIM-traded company said the granting of a new patent benefitted the group in ensuring that its technology continued to lead the field in the area for the foreseeable future.

It said the successful application was expected to provide a “marketing and operational advantage” by extending the ability to claim patent protection over Hydrodec's process by a further 20 years from the patent priority date of 2014.

The new patent covered a method for producing a higher quality non-corrosive product using a specific - but incremental - improvement to the original Hydrodec process.

It had been granted in the US, which remained the group's largest and most important market, subject only to payment of the final fee.

Applications in respect of other territories, including the EU, Australia and Japan, were on-going.

“The award of this patent reinforces the strength of our technological offering and our market leadership,” said Hydrodec CEO Chris Ellis.

“With our transformer oil output now generating carbon credits, we are moving towards a uniquely environmentally friendly business model within the refining and re-refining industry, founded upon a world-leading technology.”

The board said it expected to announce the group's interim results for the six month period to 30 June on or around 25 September.

More news

22:51 US close: Markets mixed as Fed finishes first day of meeting

Wall Street's main indices finished mixed on Tuesday as the Federal Reserve kicked off its two-day rate-setting meeting, alongside several positive updates from corporate heavyweights such as Boeing and 3M.

22:31 Theresa May unveils new climate change policies in Paris summit

Prime Minister Theresa May has announced new environmental policies including a £140m fund to help developing countries battle against the negative effects of climate change.

18:12 Broker tips: Lloyds, Barclays, Entertainment One

Goldman Sachs reiterated its 'sell' recommendation on shares of Lloyds and Barclays, placing both stocks on its list of 'UK Sell Ideas' for 2018.

18:07 Results round-up

Industrial equipment rental firm Ashtead said half year earnings were boosted by clean-up efforts after hurricanes Harvey, Irma and Maria and the weak pound as it posted a 16% rise in pre-tax profits to £493.1m.

18:02 Europe close: Technology and M&A power gains in shares

Stocks on the Continent gained ground on Tuesday paced by Technology issues, even as traders waited on the US central bank's policy announcement the next day.

17:53 London close: Forties failure lifts FTSE as inflation spikes

London stocks extended their gains on Tuesday as supply disruptions boosted the energy sector and investors mulled higher than expected UK inflation figures.

17:33 US open: Boeing, 3M push Dow Industrials to fresh record-high

Wall Street's main indices are again heading higher on Tuesday as the Federal Reserve kicks off its two-day rate-setting meeting and several positive updates from corporate heavyweights such as Boeing and 3M.

17:34 EasyJet acquisition of Air Berlin assets approved by European Commission

UK budget airline easyJet cleared a major regulatory hurdle on Tuesday as its proposed acquisition of airport slots and aircraft from Air Berlin was approved by the European Commission.

17:49 Facebook to overhaul its tax structure worldwide

Facebook will move its global tax and revenue base from Ireland and begin booking advertising locally in every country where it operates.

16:51 GSK given green light for Churg-Strauss syndrome treatment

GlaxoSmithKline has been given approval by the US drug regulator for a first targeted treatment for eosinophilic granulomatosis with polyangiitis (EGPA), previously known as Churg-Strauss syndrome.